Zions Bancorporation, National Association (NASDAQ:ZION) Raised to “Buy” at The Goldman Sachs Group

Zions Bancorporation, National Association (NASDAQ:ZION) was upgraded by research analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm currently has a $71.00 target price on the bank’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 29.40% from the company’s current price.

A number of other research firms have also recently commented on ZION. Wedbush boosted their price target on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Compass Point lifted their price target on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Stephens lifted their price objective on shares of Zions Bancorporation, National Association from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Barclays increased their price objective on shares of Zions Bancorporation, National Association from $52.00 to $59.00 and gave the stock an “underweight” rating in a research note on Monday. Finally, JPMorgan Chase & Co. lowered their price target on Zions Bancorporation, National Association from $58.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $58.25.

Zions Bancorporation, National Association Stock Down 1.0 %

Zions Bancorporation, National Association stock opened at $54.87 on Tuesday. The company’s 50 day simple moving average is $57.10 and its 200 day simple moving average is $50.95. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $8.10 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 5.10 and a beta of 1.12. Zions Bancorporation, National Association has a fifty-two week low of $37.76 and a fifty-two week high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings results on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.21. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $781.63 million. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. During the same quarter in the previous year, the firm posted $1.13 earnings per share. As a group, sell-side analysts anticipate that Zions Bancorporation, National Association will post 4.85 EPS for the current year.

Insiders Place Their Bets

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 4,385 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $53.46, for a total value of $234,422.10. Following the transaction, the executive vice president now owns 24,714 shares of the company’s stock, valued at approximately $1,321,210.44. This represents a 15.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul E. Burdiss sold 9,506 shares of Zions Bancorporation, National Association stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $61.06, for a total transaction of $580,436.36. Following the transaction, the executive vice president now owns 86,232 shares in the company, valued at $5,265,325.92. This represents a 9.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,881 shares of company stock worth $1,108,184. 2.22% of the stock is currently owned by company insiders.

Institutional Trading of Zions Bancorporation, National Association

Several institutional investors and hedge funds have recently modified their holdings of the company. ORG Wealth Partners LLC bought a new stake in shares of Zions Bancorporation, National Association in the 3rd quarter valued at approximately $28,000. Allspring Global Investments Holdings LLC lifted its position in shares of Zions Bancorporation, National Association by 68.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,289 shares of the bank’s stock worth $56,000 after purchasing an additional 526 shares during the last quarter. Abich Financial Wealth Management LLC grew its holdings in shares of Zions Bancorporation, National Association by 26.4% in the second quarter. Abich Financial Wealth Management LLC now owns 1,417 shares of the bank’s stock worth $61,000 after purchasing an additional 296 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Zions Bancorporation, National Association in the 2nd quarter valued at about $101,000. Finally, Venturi Wealth Management LLC grew its stake in Zions Bancorporation, National Association by 209.1% in the third quarter. Venturi Wealth Management LLC now owns 2,470 shares of the bank’s stock worth $117,000 after purchasing an additional 1,671 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors.

About Zions Bancorporation, National Association

Zions Bancorporation, National Association provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington segments.